The lake was originally named Hard Hack Swamp. Horatio and Fred Farghuar, who immigrated in the 1860s from the Isle of Wight, settled near the lake.They later changed the spelling of the name to "Fargher".[2]

The lake and surrounding area was renamed Fargher Lake, and the lake was drained sometime during the early 1960s.[2] The drained lake bed was used then for farming and currently contains blueberry fields.